Market Overview
Hair Care Market is projected to reach US$ 71 Billion, registering a CAGR of a 5.4% from 2022 to 2030.
The hair care market has seen tremendous growth in recent years, with consumers demanding more natural and specialized products for their scalp and hair. As a result, the hair care industry has become a multi-billion dollar global industry.
Hair care products are a huge industry, with many different types of products available for consumers to choose from. The most popular type of hair care products are shampoos, conditioners, styling products, and treatments. Many of these products are designed to help protect and nourish the hair, while others are created to help create specific styles.
Shampoo is one of the most popular types of hair care products. It is used to clean the hair and scalp, removing dirt, oil, and other debris. Many shampoos also contain conditioning ingredients to help protect the hair and scalp from damage. Conditioners are used to help add moisture and make the hair more manageable. They can also help prevent split ends, frizz, and static.
Styling products are used to help create a specific hairstyle. These products can range from gels, mousses, and sprays to more specialized items such as hot rollers and curling irons.
Regional Analysis
Asia Pacific held the largest share in recent times. The inclination of consumers towards hair and scalp care enterprises, coupled with new brands tapping into the market in the region, is expected to drive the regional market. In July 2021, Adon Hair Care Clinic, an India- based hair transplant brand, launched Grow Dense Hair Serum, which is approved by the FDA designed for hair and scalp care.
Europe is expected to register the alternate-fastest CAGR over the forecast period. Rising consumer interest in different products and adding online beauty spending are some of the crucial factors fueling the product demand within the region.
The market in Europe has been disrupted by the mushrooming growth of direct- to- consumer channels and the use of social media. Accordingly, mainstream brands similar as Head & Shoulders continue to face violent competition from ‘masstige’ (prestige for the millions) brands- Aveda, Palmer’s and Kérastase.
Market Segmentation
By Product Analysis
Hair Oil Segment to Hold Highest market Share
Based on the product, the market is segmented into hair colorants, soap, conditioner, hair oil, and others.
The soap segment is expected to hold a major share due to enjoying various hair enrichment content similar as vitamins, botanical excerpts, minerals, canvases, and others, which help stimulate the hair from the scalp follicles. either the intense operation of soap by numerous consumers is expected to boost the member's demand.
The hair colorants, soap, conditioner, and hair oil parts retain a robust market presence due to the growing demand for hair care market Size in a beauty salon, gym, and massage remedy.
The other sub-segments, similar as hair styling gel and hair spray, have gained positive traction among consumers. This is owing to the massive adoption of multiple types of hairstyling by youthful consumers backed by the evolving fashion trend.
By Distribution Channel Analysis
Supermarket/ Hypermarket is Segment to Remain at the Forefront
Based on the distribution channel, the market is fragmented into supermarkets, hypermarkets, specialty stores, online stores, and others.
The supermarket/ hypermarket segment is expected to hold the largest share because of the vacancy of a wide range of goods under a single roof, barring the need to browse in multiple stores. Also, the consumers' capability to physically see the item reduces the chance of purchasing counterfeit goods.
Key Players
The prominent players operating in the global professional hair care market Overview have strategically focused on product launch as their key strategy to gain significant share in the market. The crucial players penciled in the global professional hair care industry include L’Oreal SA, Henkel Corporation, Procter & Gamble Co., Unilever Corporation, Kao Corporation, Aveda Corporation (Estée Lauder), Avon Products Inc., Revlon Inc., Toni & Guy and Shiseido Company Limited.
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